IAE Wins Order for Five V2500s from ICBC

China’s ICBC Financial Leasing has placed a firm order for V2500 engines to power five Airbus A320s. In a $90 million deal to be announced by International Aero Engines at the Farnborough International airshow, the transaction calls for deliveries to take place from 2013 to 2015. ICBC has ordered V2500s for 20 A320s, following an initial order during the Singapore Airshow in February involving 15 A320s.

IAE also is expected to announce today that Mexican low-fare carrier Volaris has amended its existing V-Services fleet-hour agreement to add coverage for another 26 V2500 engines. Volaris currently flies 35 V2500-powered A320s and holds firm orders for another 13.

In a further announcement at the show, IAE is expected to reveal that long-time customer Monarch Airlines signed a $250 million fleet-hour maintenance deal recently to support 16 A321s. “We needed flexibility and an innovative approach to our engine repair and overhaul strategy and one that continued to provide both high levels of maintenance quality and predictable cost,” explained Monarch technical director Mick Adams. “IAE worked closely with our team and provided the option that worked best for our engine fleet,” he said.